Highnote Raises $90M in Series B Funding to Accelerate US Merchant Acquiring Expansion

Highnote, a leading player in the embedded finance sector, has recently raised $90 million in a Series B funding round to enhance its modern card issuance and program management services. This significant investment was spearheaded by Adams Street Partners, with backing from existing investors such as Oak HC/FT, Costanoa, WestCap, and Pinegrove Venture Partners.

Highnote’s Comprehensive Payments Platform

Highnote is revolutionizing the way businesses manage financial transactions with its innovative payments platform. This platform enables companies to seamlessly integrate both virtual and physical card payments, along with ledger and wallet functionalities, into their existing products. By leveraging modern technology, Highnote aims to deliver efficient financial solutions tailored for businesses of all sizes.

Utilization of Series B Funding

The newly acquired capital will primarily be directed towards expanding Highnote’s embedded finance and issuing platform. A major aspect of this expansion includes the launch of an acquiring solution, designed to facilitate both pay-in and pay-out transactions on a unified platform through a comprehensive general ledger.

API-Based Acquiring Platform

Highnote’s API-driven acquiring platform empowers businesses to accept card payments online. Companies can utilize plug-in checkout software or develop custom-built features, enhancing their payment processing capabilities. Key benefits of this platform include:

• Direct integration with leading payment networks for better data access and transparency.
• Enhanced economic efficiency for customers.
• Certification from all major US card brands, making it an appealing option for small and medium-sized businesses (SMBs) and enterprises.

Leadership Insights

Highnote’s CEO, John MacIlwaine, expressed enthusiasm about the partnership with Adams Street, highlighting the potential for growth through the new acquiring space. He stated, “We are excited to partner with Adams Street in our next phase of growth and about our entrance into the acquiring space, which accelerates the expansion of our world-class embedded finance and issuing platform.”

Robin Murray, a partner at Adams Street Partners, echoed this sentiment, emphasizing Highnote’s transformational platform and promising growth trajectory as key reasons for leading the funding round. He commented, “We are excited to support the company’s vision to lead innovation in embedded finance.”

For more information on how Highnote is changing the landscape of embedded finance, be sure to check their official website.